# Phase 1: Moderator Cross-Tabulation

## Country Counts by Moderator

| Moderator | Count | % of Countries |
|---|---|---|
| OECD | 38 | 16.0% |
| Safe Issuer | 30 | 12.7% |
| QE Country | 24 | 10.1% |
| EMU | 19 | 8.0% |

## Income Tercile × OECD

| income_tercile   |   Non-OECD |   OECD |   Total |
|:-----------------|-----------:|-------:|--------:|
| high             |         29 |     34 |      63 |
| low              |         63 |      0 |      63 |
| middle           |        107 |      4 |     111 |
| All              |        199 |     38 |     237 |
